Posted by Joe on March 19, 2002 at 11:11:52:
Good going. Yes, Bronchick has the best L/O course, in my opinion.
Questions on corporate formalities - Posted by Michael A. Bardelli
Posted by Michael A. Bardelli on March 19, 2002 at 05:27:14:
Hello fellow presidents/CEO’s and owners of REI corporations. I have a question regarding corporate formalities. Having just formed my REI corporation, what needs to be done at the first shareholder’s meeting and the first meeting of the board of directors. Having read various publications, I have found that at the shareholder’s meeting you must:
Elect Directors
Adopt bylaws
Adopt corporate seal, minute book, stock certificates, etc.
Being that my wife and I are the only two shareholder’s of the corporation, what other formalities are we forgetting?
Do we have to draft a resolution every time that we wish to do a real estate investing deal? Any input from the community is most appreciated.
Sincerely,
Michael A. Bardelli
Re: Questions on corporate formalities - Posted by Joe
Posted by Joe on March 19, 2002 at 10:32:04:
I highly recommend that you do a little more reading if you’re asking these questions. It’s highly important to follow corporate protocol and formalities to ensure your corporation holds-up if challenged. The good news is that this is basically just writing the appropriate resolutions, annual reports, and other paperwork and keeping it within your minutes book.
I would recommend Bronchick’s course on corps, which not only tells you how to form one, but how to run it, with many examples of resolutions for a real estate business. For example, you could pass a single resolution allowing the officers to purchase real estate without having to pass a resolution for each property.
Re: Questions on corporate formalities - Posted by Michael A. Bardelli
Posted by Michael A. Bardelli on March 19, 2002 at 11:10:29:
Thank you for your response. I guess I am going to buy the bulletproof corporation course as well. I am buying the land trust course and the lease option course if I can find one. Does Mr. Bronchick offer a course on lease options?
Sincerely,
Michael A. Bardelli